If ever a car were an instant collectible, Cadillac’s Eldorado convertible for 1976 was seemingly it. Pending government regulation at the time had pushed manufacturers away from making convertible models and Cadillac marketed its Eldorado as the last ragtop to ever be produced by Detroit.

Some 14,000 were assembled and, according to Hemmings, speculators drove prices for them far above the base $11,049 MSRP, which was $463 more than the coupe.Some collectors even trucked them from showroom to garage for long-term storage in hopes of a later payoff.

Dave Pugliese of Litchfield bought his spotless Eldorado two years ago from an owner in Rhode Island after a 20-year search. He lovingly preserves it in an immaculate, heated hilltop garage.

“Back when I was in middle school — 13, 14 years old — a gentleman in town had a coupe, not a convertible, in Crystal Blue Firemist. I always admired the car and I’d hoped someday that I would be able to find one in this color,” he recalled.

The Eldorado is a land yacht that stretches 224.1 inches — nearly 19 feet. It has a 126.3-inch wheelbase. The gas tank holds 27.5 gallons. “I am amazed. Today, they’re obviously not made like this. It’s really a tank,” Pugliese acknowledged. When he takes the Eldorado to car shows, Pugliese gets compliments from spectators. “They love the condition and the color of the car; the fact that is a fairly rare color because it was an option at the time. It was a $140 option from the factory. You just don’t see many in this condition and this color combination,” he said.

Pugliese’s 1976 Cadillac Eldorado convertible is powered by an immense 8.2-liter (500 cubic inch) V-8 engine that produces only 190 horsepower. “It’s lower horsepower because that’s when emissions first came into play,” he said. The Eldorado has numerous options, including split leather seats in front, tilt wheel, cruise control, and power trunk, all of which drove to original price up to slightly under $14,000. The interior is spacious and the ride cushy.

“It floats. It’s a very heavy car. It drives very well,” Pugliese said. Before hitting the road, though, the 5,153-pound car automatically adjusts the rear suspension into travel mode. “It has the original air suspension. There’s a pump that raises the level of the rear to keep it level because of the weight of the car,” he explained. The process takes 30 to 60 seconds.

Other features include a color-matched “parade boot” option — as opposed to a more traditional vinyl cover for the retracted blue top — and a rear seat door handle that’s incorporated into the front seat arm rest on the passenger side.

Pugliese said the Eldorado has “all original chrome” and is “pretty much a non-restored car.” He doesn’t drive the it that much.

“It’s a ‘nice day’ car to take out and enjoy. It’s a dream just to put in the garage, and wash, and wax, and admire,” he said. While the glamorous Eldorado ultimately didn’t end up being the last convertible ever produced by Detroit automakers, collector car expert/publisher Hemmings reports that it fills a “curious niche” in automotive history and that some examples can be quite valuable today.